The demand for vehicle electrification is increasingly gaining traction on account of several benefits such as lower emissions and reduced vehicle weights. In addition to this, strict environmental regulations and government initiatives are likely to support the growth of the vehicle electrification market in the coming years. North America is expected to the fastest-growing market with the rapid growth of charging infrastructure in the region.

The vehicle electrification market is expected to soar in the forecast period on account of major driving factors such as the increasing need for 48v architecture and development of newer technologies in electric vehicles. However, the higher cost may hinder the growth of the vehicle electrification market during the forecast period. On the other hand, a lucrative market opportunity for the key players lies in the electrification of commercial vehicles in the coming years.

The global vehicle electrification market is segmented on the basis of product, vehicle type, and degree of hybridization. Based on product, the market is segmented as electric pumps, electric power steering, liquid heater PTC, electric air conditioner compressor, actuator, alternator, and others. On the basis of the vehicle type, the market is segmented as passenger cars and light commercial vehicles (LCVs). The market on the basis of the degree of hybridization is classified as Hybrid Electric Vehicle (HEV), Battery Electric Vehicle (BEV), ICE & Micro Hybrid Vehicle, Plug-In Hybrid Electric Vehicle (PHEV), and 48 V Vehicle.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global vehicle electrification market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The vehicle electrification market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

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